Columbia University MS in Financial Economics

myampol

Active Member
Columbia Financial Economics just released the profile of their first incoming class. I applaud their efforts to put info online quickly.
I find their choice of percentage instead of absolute score (both the GMAT/GRE section) interesting and their calculation of the Total GMAT column incorrect (you can't calculate Total column when there is N/A for the Regular Decision column).
http://www4.gsb.columbia.edu/ms/financialeconomics/admissions/profile

View attachment 1791
Yes, if the quantity of "regular decision" students who submitted GMAT scores is equal to zero, then the numbers behind the figures in the "Total" column would be equal to the numbers behind the "Early Decision" column.

Of course, they don't specify whether the displayed test scores reflect the entire applicant pool, or just the admitted candidates...
 

myampol

Active Member
So, they took 10 students out of 543..... what's the point of having a new program like this if they're only gonna take 10 people?

I can't imagine all of the 533 rejected applicants are that far off from the 10 accepted applicants.
According to Columbia's website,

"Master of Science in Financial Economics students are indistinguishable from finance or economics PhD candidates in their intellectual ability and academic credentials."

However, the students are clearly distinguishable in one key characteristic: Money.

Unlike Ph.D. programs, where most students do not pay tuition (and also receive fellowships/stipends to provide them with financial support,) and unlike Ivy-league undergraduate programs, where the "sticker price" is paid only by those students from wealthy families, while the majority of students receive need-based financial aid to make up the difference between what their families are deemed to be able to afford vs. the "sticker price", this new program notes that:

"Columbia Business School does not offer merit- or need-based financial aid for the Master of Science in Financial Economics."

Clearly, with an 80% yield (8 candidates out of 10 accepting the offer of a place in this $100,000 program), I would conjecture that Columbia has only offered places to those students whom they know can afford to pay the tuition out-of-pocket. As we know that other departments in Columbia have a habit of offering candidates who are not admitted to their degree of choice (eg: MSFE), but are otherwise strong candidates, the opportunity to instead do a related but different degree (eg: MSOR), I wonder how many of these students applied for the Ph.D. program and were not selected, then were asked whether they would like to be considered for this new MS program?
 

amandak

New Member
So, they took 10 students out of 543..... what's the point of having a new program like this if they're only gonna take 10 people?

I can't imagine all of the 533 rejected applicants are that far off from the 10 accepted applicants.
I was one of them..inverviewed and rejected :(
 

rajanS

Active Member
why would a university have 3 finance programs? financial engineering, financial mathematics, financial economics...all offered by 3 different departments? when you look at their online program, they have even more finance programs.
 

Andy Nguyen

Member
why would a university have 3 finance programs? financial engineering, financial mathematics, financial economics...all offered by 3 different departments? when you look at their online program, they have even more finance programs.
Why not?
If there are hundreds of people willing to pay for their degree (as is evident here), it's a good business. It doesn't matter what people say or think, as long as there are more applicants than seats available, it's not going to stop Columbia or any university to offer this degree.
 
why would a university have 3 finance programs? financial engineering, financial mathematics, financial economics...all offered by 3 different departments? when you look at their online program, they have even more finance programs.
where did you see online programs?
 

rajanS

Active Member
Why not?
If there are hundreds of people willing to pay for their degree (as is evident here), it's a good business. It doesn't matter what people say or think, as long as there are more applicants than seats available, it's not going to stop Columbia or any university to offer this degree.
thats true.
 
hmmm..i liked what they had to offer..intensive phd like course , small class size. i kept tellin myself it would make up for the cost in the long run hehe
but yeah i would have ben indebted for years :p
Is it worth it to spend 100K to take PhD classes but your diploma designation is Masters? Also, most of your PhD classmates will be taking the same classes for free.

IMO, you don't get enough credit if you take a lot of PhD classes, but graduate with a masters degree.
 

AKG

New Member
Hi every1,

After reading the tread, I couldn't stop myself from writing.

Something about me: I am an electronics engg , with an MBA in Fin from Arizona. Moved back to India a year back and currently working as a strategy consultant for the education sector.

I came back thinking I would get a good IB job back home but things didn't work out as planned. Also, im not very pleased with the quality of work. Hence, I AM CONSIDERING THIS COURSE.

However, more importantly, I love finance and wanted to do a PHD, but I dont have the patience to wait for 4-5 yrs. Hence this seems to be a good program. Also, since I want an equity based MS.Fin program and not a quant program, I dont have many choices. The only other good program is by Princeton.

My biggest concern is the placement. Honestly, i am really confused. I would really appreciate if anyone has any piece of advice or further insight into it.

Thanks!

Akg
 

French

New Member
just got an e-mail
400 applications. 8 people admited.
clearly I am not one of them.
 
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